11th November 2010
Update on Iraq
Petrel Resources (AIM:PET), the AIM listed oil and gas explorer, reports that work continues on the Subba & Luhais EPC project in southern Iraq.
Petrel has received the second tranche of $2.5 million due under the arrangement between the Iraqi authorities and our Joint Venture partners.
The third tranche of $2.5 million is due in 6 months.
The expected formation of an Iraqi Government should clarify oil policy and enable Petrel to move forward with our Iraqi projects.
Enquiries:
|
Petrel Resources Plc |
|
|
David Horgan, Managing Director |
+353 (0)87 292 3500 |
|
John Teeling |
+353 (0)1 833 2833 |
|
Northland Capital Partners Limited |
|
|
Charles Vaughan Gavin Burnell |
+44 (0)20 7492 4750 |
|
College Hill |
|
|
Nick Elwes |
+44 (0)20 7457 2020 |
www.petrelresources.com
This information is provided by RNS